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The latest update is out from Narryer Metals Limited ( (AU:NYM) ).
Narryer Metals has secured binding commitments to raise $1.056 million via a placement of 35.2 million new shares at $0.03 each, a 30% premium to its last closing price. The shares will be issued in two tranches, with most under existing placement capacity and a smaller tranche to directors subject to shareholder approval.
The placement brings in a new substantial shareholder, Perth-based mining investor Tim Goyder, alongside existing major backers Mimaro Group and Raffe Capital. Proceeds will fund working capital, assessment of new opportunities, and advancement of existing projects, potentially strengthening Narryer’s balance sheet and strategic positioning in the critical minerals sector.
More about Narryer Metals Limited
Narryer Metals Limited is a critical minerals exploration company listed on the ASX, focusing on projects in Australia and Canada. Its portfolio includes the Rocky Gully and Muckanippie projects in Western and South Australia targeting titanium and rare earth-related minerals, as well as lithium-prospective assets in Canada’s Northwest Territories.
Average Trading Volume: 198,549
Technical Sentiment Signal: Sell
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